Breaking Industry News
Breaking News articles for June 2024
Quick takes: Things that caught our eye this week
Friday, June 28, 2024
There's never a dull week in payments, and this Friday we're highlighting an opportunity to get some serious lobbying experience in Washington, a fintech awards celebration in London, issues that arise in implementing B2B surcharging, the dubious benefits provided by credit-building products, and a seminar on how to personalize your CX strategy.
Are you making the best use of your payments data?
Thursday, June 27, 2024
The following article, "Revolutionizing decision-making with payments data" by Jon Protaskey, director of software engineering at BHMI, discusses new tools and approaches that can help you view, extract and analyze data to learn more about your operations, enhance customer experiences and transform the way you make business decisions.
Judge scuttles $30 billion proposed settlement between card brands, merchants
Wednesday, June 26, 2024
A federal district court judge in New York put the kibosh on a $30 billion settlement proposal that would put to rest a long-standing legal tussle pitting merchants against card giants Visa and Mastercard.
Electronic Payments champions merchants with POS Bill of Rights
Tuesday, June 25, 2024
Electronic Payments Inc., a leading transaction processor and merchant acquirer, took a bold step to champion small business needs with its latest initiative, the POS Bill of Rights. Announced June 25, 2024, this set of principles was created to reshape merchant experiences by promoting transparency, trust and satisfaction.
Fed's debit cap plan under fire
Monday, June 24, 2024
A group of Republican lawmakers wants to derail the Federal Reserve's plan to slash the allowable cap on debit card interchange.
Quick takes: Things that caught our eye this week
Friday, June 21, 2024
This week we're spotlighting the impact of hybrid work on meeting dynamics and employee retention, AmEx's agreement to acquire Tock from Squarespace, the ETA's Strategic Leadership Forum coming up in September, and a rising star in financial services.
Apple dumps its BNPL offering
Thursday, June 20, 2024
Apple is scrapping its in-house buy now, pay later (BNPL) payment option, Apple Pay Later, in lieu of payment plans through third-party credit and debit card lenders, and BNPL lender Affirm.
Farewell to Marc Beauchamp, founder of Bankcard Life
Wednesday, June 19, 2024
Marc Beauchamp, founder of Bankcard Life and a dedicated advocate for the advancement of merchant services sales professionals, left behind shoes too big to fill when he passed away on June 16, 2024.
Green Sheet digs into surcharging with PayJunction's Randy Modos
Wednesday, June 19, 2024
Recently, Randy Modos, president and co-founder of PayJunction, shared insights with The Green Sheet on solving the complexities of credit card surcharging.
Card brands, merchants settlement may get scrapped
Tuesday, June 18, 2024
An agreement intended to put to rest an antitrust lawsuit filed by merchants against Visa and Mastercard could soon be sent to a scrapheap, after the judge overseeing the lawsuit indicated she wasn't inclined to approve the proposed settlement.
Nacha alliance combats elder financial exploitation
Monday, June 17, 2024
Nacha's Payments Innovation Alliance, a membership program that unites global stakeholders with the goal of revolutionizing the payments industry, updated its resources to combat the growing issue of elder financial exploitation.
Quick takes: Things that caught our eye this week
Friday, June 14, 2024
This week we've noted research on faster payments and financial inclusion, a call to investigate OpenAI's nonprofit status, nominations for the 2024 Advancement in Payment, Innovation & Technology Awards, and a study indicating financial institutions' primary status with consumers may be at risk.
Faster payments seen benefiting underbanked
Wednesday, June 12, 2024
Just under 19 percent of Americans don't use banks for either deposit accounts or credit cards, according to the Federal Deposit Insurance Corp. But that could all change as faster payment mechanisms take hold, according to a new report from the U.S. Faster Payments Council (FPC).
GS interviews Global Legal's Leo Arzumanyan re Illiniois' interchange legislation
Tuesday, June 11, 2024
Recently, Leo Arzumanyan, a corporate transactional attorney at Global Legal Law Firm, reached out to share his insights into the scope and potential ramifications of the Illinois Interchange Fee Prohibition Act. Following is the Q&A that resulted:
Digital payments gain steam, fraud remains troubling
Monday, June 10, 2024
Americans, especially younger adults, are all about speed, flexibility and convenience when it comes to payments. And they seem to prefer the services offered by nonbanks.
Quick takes: Things that caught our eye this week
Friday, June 07, 2024
This week we've noted research on a gender gap in leadership in cross-border payments, millennials' increasing financial confidence, and ID fraud in online gaming. We've also looked into the EU's Cyber Resilience Act and Turkey's investigation into some of Apple's contracts and practices.
Progress happening in cannabis payments sphere
Thursday, June 06, 2024
The Biden Administration's move to reclassify marijuana from Schedule I to Schedule III under the Controlled Substances Act represents a monumental shift in federal policy. Announced May 16, 2024, this proposal by the Justice Department aims to align federal drug policies with the growing acceptance and legalization of cannabis at the state level.
Debit cards are tops with consumers
Wednesday, June 05, 2024
Digital wallet usage is growing by leaps and bounds, and when consumers add their debit cards to digital wallets those are the most-used payment option. That's the key finding revealed in a new report from J.D. Power.
GS interviews AU10TIX's Ofer Friedman
Tuesday, June 04, 2024
We recently check in with Ofer Friedman, chief business development officer at AU10TIX, regarding the company's insights into the extent of identity fraud, how it is perpetrated and most effective strategies for preventing it. Following is the resulting Q&A.
Nacha's security-breach guidance an essential tool
Monday, June 03, 2024
To expand on an item posted in Quick Takes under Breaking News on Fri., May 31, 2024, Nacha, which governs the ACH network, the payment system that drives direct deposits and direct payments and reaches all U.S. bank and credit union accounts, introduced a free tool to help companies deal with security incidents and breaches.
